Kerry Whisnant, an avid St. Louis Cardinals fan and professor of physics at Iowa State University, may be on to something that will greatly impact team winning percentages. Mathematical models that he and other fanatic baseball statisticians have helped produce may accurately predict teams' successes. Whisnant and other members of the Society for American Baseball Research have analyzed...
Foreign Exchange Trader
A foreign exchange trader looks at the various factors that influence local economies and rates of exchange, and then takes advantage of any misevaluations of currencies by buying and selling in different foreign exchange markets.
Low-end Salary:
$69,173/yr
Median Salary:
$87,818/yr
High-end Salary:
$139,517/yr Education:
Mathematics, economics, and statistics majors have a distinct advantage in applying for positions in this field, as do history majors whose coursework included economics. A bachelor’s degree is required. Any experience in a trading environment is valued, as is any work that demonstrates the ability to work hard, make fast and accurate decisions, and manipulate numbers. Many employers appreciate study abroad, international work experience or fluency in a foreign language.
Math Required:
College Algebra
Trigonometry
Geometry
Calculus I and II
Statistics
When Math Is Used:
Some of the most important characteristics learned from studying math as a foreign exchange trader are quick decision-making skills, problem-solving skills, and a sharp analytic mind.
Potential Employers:
The foreign exchange market includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. As a result, foreign exchange traders are employed by these various organizations.
Facts:
Foreign exchange traders must act fast to exploit valuation differences: “You’ve got seconds to decide how millions of dollars should be spent,” said one trader, “so you have to have confidence.” Confidence ranked second right after “guts” in qualities important in new traders.
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Quote Of The Day
"I feel my training in mathematics provided me with the invaluable ability to apply logic, reason, and careful quantitative, as well as qualitative, analysis to my work. These thought processes are desired and applicable to almost any field."
Senior Engineer
Figures represent salary potential.
© BYU Mathematics Department 2009
Additional support provided by:
Mathematical Association of America